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20121204
20121204
Search Results 0 to 1 of about 2 (some duplicates have been removed)
parts of the proposals to avert that fiscal cliff will really have. tonight we tackle the much-discussed concept of increasing tax rates for the top 2%. chief business correspondent ali velshi joins me now. help us cut through the spin. the partisans all have a different take on this. if you raise taxes on the top 2%, what's the impact? what does it look like and how much of an impact would it have on the deficit? >> well, let's look at it in two ways. one is income tax, right? right now, the highest earners, those households that earn more than a quarter million dollars a year, pay a higher tax rate on the marginal amount, the amount above the $250,000 a year. so we're talking about taking that rate from 36% to 39.6% if we even go there. that hasn't even been negotiated yet but that's 3.6% on every dollar you earn above $250,000. there are not a lot of studies that suggest that that would have catastrophic effects on the economy. the other area that democrats want to raise taxes are on investment income, things like capital gains, dividend income. now, those will jump signific
Search Results 0 to 1 of about 2 (some duplicates have been removed)